PRIVATE LIMITED COMPANY (Minimum no. of Members -2, Maximum – 200):-
The private limited company is a proven and successful business model. Forming a private limited company results in protection of personal assets, access to more resources, financial assistance and greater tax cuts.
A Private Limited Company is easy to form, has continuity, limited liability, easy access to capital and much more. Private limited companies allow for Foreign Direct Investment of upto 100% through the automatic route, therefore, your business to go international, it is best to start a private limitedcompany.
Advantages of Private Limited Company
Separate Legal Entity: - A Private Ltd. Co. is a legal entity and a juristic person established under the Act.
Limited Liability: - Member’s personal assets are safe and liability of members is limited to the assets of a company.
Uninterrupted Existence: - A company has perpetual existence i.e. it won’t be affected by the change, exit or entry of member
Borrowing Capacity: - Banks prefer Private Limited Companies to render loans over partnership firms and proprietary concerns.
Investment Ready: - Generally, when any business idea clicks, fund is a pre-requisite to growth. A private company is the best option for this as it is easier to raise funds from VCs etc. Automatic 100% foreign direct investment is allowed in many sector
Tax Deduction: - Sole traders and partnerships pay income tax. Companies are required to pay Corporation tax on their profits. There is a wider range of allowances and tax-deductible costs that can be offset against a company’s profits.
Minimum 2 Shareholders for Private Limited Company Registration
Minimum 2 Directors
At least one Indian Resident
Share Capital as per client’s choice
DIN for all Directors
Scanned Copy of the Following Documents has to be Provide by the Promoters of the Company:
PAN card copy with Self attestation.
Voter Id copy or Passport copy or Aadhar card copy or Driving license copy with self-attestation.
Latest Bank account statement or Mobile /Telephone bill or Electricity Bill (not older than two months)- no need for self-attestation.
Latest passport size photo in jpg.
For the registered office proof of the company, if the property is rented/ leased, then copy or rental agreement or lease agreement.
Copy of Electricity bill or Property Tax receipt or Water Tax receipt not older than two months.
Copy of No objection certificate from the owner of the property.
If owned property, copy of conveyance deed and electricity bill is sufficient. .
In case of NRI or Foreign national, Passport copy has to be notarized at the Indian Embassy of the particular country.
Utility bill has to be provided of the particular country where the NRI or Foreign national resides and it should be notarized.